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Every business, private limited company, and trustee organisation in Nigeria is required to file annual returns on a yearly basis. To do so, they must complete the prescribed form, submit it to the Corporate Affairs Commission (CAC), and include the specified information about their organization as required by the Companies and Allied Matters Act (CAMA). Chapter 16 of the CAMA (2020) makes it a statutory prerequisite for every company in Nigeria to file annual returns every year.

Each calendar year, returns must be filed (i.e. annually). On the other hand, newly incorporated companies need not file returns for the first 18 months post-incorporation, whereas older companies must submit their annual returns no later than 42 days following their annual general meetings.


For more information, Call/WhatsApp 07033097160

Change of name of company

Change or alteration of the name of a registered business is a factor of choice or compellation, choice when it is voluntary, compellation when it is forced by the regulatory body upon receipt of complaints by aggrieved persons, self-knowledge by CAC, and other factors listed in the Act. Where the name of the company is identical to an earlier subsisting registered entity calculated to deceive, incompatible with a national image.

The company affected may be ordered to change its name with the approval of the commission within six (6) weeks of registration of such. Voluntary change occurs upon the passage of a resolution by the company, with the approval of the commission, while compulsory change is at the instance of the Commission

happiness440:
Every business, private limited company, and trustee organisation in Nigeria is required to file annual returns on a yearly basis. To do so, they must complete the prescribed form, submit it to the Corporate Affairs Commission (CAC), and include the specified information about their organization as required by the Companies and Allied Matters Act (CAMA). Chapter 16 of the CAMA (2020) makes it a statutory prerequisite for every company in Nigeria to file annual returns every year.

Each calendar year, returns must be filed (i.e. annually). On the other hand, newly incorporated companies need not file returns for the first 18 months post-incorporation, whereas older companies must submit their annual returns no later than 42 days following their annual general meetings.


For more information, Call/WhatsApp 07033097160

Please is this an ongoing issue? Trying to register. After I use the availability code. I keep getting that error

It's network issue. Please retry after some time.

RayRay2022:



Please is this an ongoing issue? Trying to register. After I use the availability code. I keep getting that error

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happiness440:
It's network issue. Please retry after some time.

Thank you

happiness440:
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I am still getting this error

Reach me on 07033097160 for resolution.

RayRay2022:


I am still getting this error

You can register as a frieght forwarder in Nigeria and be involved in import and export operations. The minimum share capital for a freight forwarding private limited company is 5 million share.

We are CAC Accredited registration agent. Let's register your business today.

Let's file your annual returns today.

Blessed Sunday

You can file for a change in Shareholdings and alteration of share capital of your registered entity.

Before moving ahead to the process of changing the shareholding pattern, it’s essential to grasp what ‘Shareholding Pattern’ means! The shareholding pattern refers to the distribution of shares among shareholders with certain details such as the number of shares different shareholders own and their corresponding percentage of ownership.

It is pivotal information for investors, regulators, and stakeholders to comprehend the ownership structure and its implications on decision-making as well as control within the company.


To be continued.......

Embracing and handling changes in shareholding pattern of a private limited company can help keep pace with the latest industry norms and ensure growth by attracting more capital for the business expansion or entering new verticals or markets.

Taking deeper insights into the responsible factors and procedures for shareholding pattern change can ensure seamless execution of shareholding change thus may result in better business growth.


To be continued.......

Reasons for Change in Shareholding Pattern of Private Limited Company

Several factors may be responsible for considering a change of shareholding in a private limited company. It may include;

Raising of Authorised Capital
Authorised Capital of a company is the limit till which capital can be raised in a company. In case fresh shares are being issued and the authorised capital is already consumed, then first of all, the company has to increase its authorised capital to accommodate fresh allotment / Issue of shares. There is some nominal fee which has to be paid to the central government and stamp duty needs to be paid on the increased share capital of the company.

To be continued........

Allotment of Fresh Shares

In a private limited company shares can be allotted up to 200 persons without seeking any kind of approval from the government. However, the existing shareholders have the first right to such fresh allotment/issue of shares. The shares can be allotted by the board of directors meeting. The return of allotment needs to be filed with the Federal Government of Nigeria.

Transfer of Shares

Shares can be transferred between two consenting persons. There is a prescribed share transfer form which needs to be filled, and signed by the transferor and transferee in the presence of a witness.

The share transfer form along with the original share certificate must be sent to the registered address of the company for necessary alteration in the register of members and share transfer register. The company shall be issuing fresh share certificates to new shareholder/shareholders.


To be continued.......

Transmission of Shares

Upon the death of a shareholder of the company, the legal heirs are entitled for the transfer of shares in their name. However, in case the shareholder had nominated some other person then that other person is entitled for the shares. The transmission request must be presented to the company along with the court order or will which has been probated in the court.

To be continued......

Blessed Sunday

happiness440:
Blessed Sunday

Hello. Please I have a question. I got my business name registered in January this year. Is it possible to get it incorporated at the moment? I anticipate your response.

Buy-Back of Shares

The company can buy back its own shares from the shareholders against a consideration which should not be less than the valuation of shares. The consideration for such buyback must be paid from free general reserves. Thus, only a profit-making company can buy back its own shares. The consideration amount which has to be paid to the shareholders in a scheme of Buy-Back must be deposited in a separate bank account opened for this purpose only.


To be continued.......

@Darkmode64,

Thanks for your question. Yes, currently, you can upgrade your business name to Private Limited Liability Company. Since you registered this year, your annual returns filing is not yet due till next year.
Another option is register your business name afresh as a Private Limited Company by starting a fresh registration. It's permissible to use same name but now for Private Limited Company.

Have a nice day.

Darkmode64:

Hello. Please I have a question. I got my business name registered in January this year. Is it possible to get it incorporated at the moment? I anticipate your response.

Key Steps Involved in Shareholding Pattern Change

Certain steps need to be followed for the alteration of shareholding pattern. Those include;

Board Approval: Any proposed change to the shareholding pattern requires approvals from the company’s board of directors. A board meeting should be held to discuss and authorize the changes to comply with the company’s strategic objectives and legal obligations.

Share Transfer Agreement: Once the board approves the change in shareholding pattern, a Share Transfer Agreement is executed between the transferring and acquiring shareholders. This agreement outlines the terms and conditions of the share transfer, also including the number of shares to be transferred, consideration, and warranties & representations.

To be continued.......

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Do you want to carry out a change of name of your registered business name or Private limited Liability company? We are your one stop shop.

happiness440:
@Darkmode64,

Thanks for your question. Yes, currently, you can upgrade your business name to Private Limited Liability Company. Since you registered this year, your annual returns filing is not yet due till next year.
Another option is register your business name afresh as a Private Limited Company by starting a fresh registration. It's permissible to use same name but now for Private Limited Company.

Have a nice day.

Thank you for your response. Someone was trying to confuse me and I had to equip myself with the knowledge of an expert. I appreciate you!

Every business, private limited company, and trustee organisation in Nigeria is required to file annual returns on a yearly basis. To do so, they must complete the prescribed form, submit it to the Corporate Affairs Commission (CAC), and include the specified information about their organization as required by the Companies and Allied Matters Act (CAMA). Chapter 16 of the CAMA (2020) makes it a statutory prerequisite for every company in Nigeria to file annual returns every year.

Each calendar year, returns must be filed (i.e. annually). On the other hand, newly incorporated companies need not file returns for the first 18 months post-incorporation, whereas older companies must submit their annual returns no later than 42 days following their annual general meetings.


For more information, Call/WhatsApp 07033097160

What is CAC letter of good standing?

A letter of good standing or Certificate of Good Standing is issued by the Corporate Affairs Commission (CAC) to a registered entity (business or NGO) to show that it was duly registered, It has complied with all statutory obligations, and is allowed to conduct business or carry on operation in Nigeria.

The Corporate Affairs Commission (CAC) is the one in charge of issuing out a certificate of good standing to companies in Nigeria. Some of the advantages of a Certificate of Good Standing is that you can show it to a foreign investor, apply for loans from banks, show the credibility of the company etc.

You can now apply for a Letter of good standing. Let's be your support/07033097160

What changes would you want to make to your registered business today?

Let's give you your Business Status and Cost breakdown of your outstanding Annual returns to date

Give us your registered business name or RC/BN number and we will give you for free a full status appraisal of your registered entity.

This will include a full cost breakdown of your entity outstanding Annual Returns filings to date. Then, you decide how and when to do your filings.

Blessed Sunday

Cessation of Business in Nigeria

To apply for cessation of business, the applicant must provide a consent letter for the cessation of business addressed to the Registrar of the Corporate Affairs Commission (CAC). A death certificate would be required where the proprietor is dead and the identification card of the Legal representative.